NEW DELHI: Nestle India Ltd slipped as much as 5.54 per cent in intraday trade on Monday, after media reports suggested that the Swiss multinational’s decision to withdraw Maggi from the Indian market could shave off around Rs 160 crore from its June quarter turnover.

he impact could be greater if consumers happen to reject Nestle’s other products as well, TNN reported. As Nestle takes a hit on its financial numbers with Maggi off the shelves, consumers may shift to other brands like ITC’s Yippee, Top Ramen noodles and HUL’s Knorr, added the report.

The prepared dishes segment, of which Maggi noodles form the bulk, contribute approximately 30% to Nestle’s annual revenues of around Rs 9,000 crore.